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20121123
20121123
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the fiscal cliff. the optimism we heard from leaders two weeks ago is giving way to the cold reality of all the negotiations ahead. kristin is at the white house. the president is back from his trip. what are senior staffers saying about all the upcoming talks? >> reporter: hope you had a great holiday, alex. they believe that president obama essentially has the leverage in the situation. not only did he win the election having run on a platform of increasing taxes on wealthier americans, if you look at the polls a majority of americans actually agree with him on that issue. as you know, president obama invited congressional leaders to the white house last week. they struck a rare tone of bipartisanship after that meeting. then as you point out, seems like both sides sort of went back to their respective corners and democrats really digging in their heels on entitlements, republicans digging in their heels on the issue of taxes. we're told that aids on the hill are trying to work through a couple of compromise scenarios, especially on the issue of taxes, that would essentially allow taxes t
congressional -- while leaders are looking at the fiscal cliff there is a cliff facing the postal service. there is no secret it has these large, looming fiscal issues. i think there are kind of in a way two schools of thought. one would be the gloomy one of the other would be more optimistic. on the gloomy side, you pointed out there has been a decline in the overall business of the post office. we had obviously the huge increase in the use of technology, whether tweets an e- mail, whether electronic payment systems. there has been an overall decline in the volume of mail. this is been part of what i would call almost a perfect storm that faced the post office depot service since 2006. and as you alluded to, there has been an aging very large workforce within the postal service. projected there will be difficult in meeting some of the retirement payments, specifically health care, pre- funding them going forward. on the optimistic side, we are in the middle of shopping season. black friday, as you pointed out, sales are up. a good chance of the next few days if you are at the local post
quickly face the challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration will reduce federal funding direct to san francisco by at least 26.5 million dollars a year, every single year. we would see over $5 million of cut to education, and almost $3 million of cuts from public housing. san francisco's allocation of medicare would be cut by $2 million. funding for the wic workforce program would lose almost $5 million. there would be a $1 million cut to housing services for people with hiv and aids and more than $1 million cut to the community development block grant program. ladies and gentlemen
of this morning's headlines. dersressional leaders are looking at win/win scenarios to avoid the fiscal cliff. te goal is to bring in more revenue without raising tax rates, allowing both appears to say we stood our ground. high income tacks payers thaksed inco at the top rate. >>> a new arms race in cyber space. many governments are worried hat hackers could get into aeir mainframe computers, eurning to american companies ky, those that can be tricky, though. u.s. company needs a license from the state department before t can work for a foreign country. >>> usa today reports delve straighting drought is expected to last until e >>> we're looking very nice outside right now. the sun is up and looking good today. going to see a lot of sunshine throughout the entire day a few high clouds overhead. we have been seen patchy fog in the valleys. the temperatures now still chilly 39 degrees in santa rosa, 41 in san jose. 54 degrees in san francisco this afternoon, expecting lots of 60s. some places maybe sneaking into the low 70s. next couple of days going to be a beautiful weekend ahead other than some
cliff, but our lawmakers near striking a deal. president obama meeting with congressional leaders this past week, we'll take a look at where the negotiations are and where they might be going. heather: and the american cancer society recommended annual mammograms for most women, so why does a new study say that's not necessarily a good idea? rick: also a holiday miracle. one family receives the gift of life after getting some devastating news. we'll tell you about it. >> baby did it again, and as quickly as we could possibly, you know -- i almost thought i was throwing the baby at the nurses, like quick! and the team just responded immediately. [ male announcer ] with over 50 delicious choices of green giant vegetables it's easy to eat like a giant... ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant rick: new developments in the fight to keep the u.s. postal service afloat. the cash-strapped agency noun -- announcing a plan that it hopes will help its bottom line. its package business has been growing in volume, and now the post office is testing same-day package deli
those fiscal cliff worries were largely put on hold. that's probably why we're seeing those strong gains here. let's take a look at the leaders and laggards. you're seeing dell, advanced micro, hewlett-packard is up 4% on what's been a dismal week for that stock. baxter international is up on reports that it will be buying a swedish medical equipment maker for $4 billion. those are the winners. but look at the losers for today. you're seeing a grab bag of companies, some defensive names like exelon, wisconsin energy and southern company in the energy sector. as well as cablevision and genworth which is an insurance name. so roughly pretty big grab bag for laggards today. research in motion getting a big pop today on heavy volume for that stock, up 14% in a sustained rally. that's a big move for r.i.m. we're finally getting a date for the blackberry rollout, january 30th. analysts like that move as well as investors. >> we'll see if that works out. >> blackberry 10 is make or break for this stock. >> our internal market guru here at cnbc tells me that with today's rally, the markets are n
so many big ceos worried about the fiscal cliff. has that shown up with consumers? >> i don't think so. not yet anyway. obviously i worry about that. i think business worries about that and i'm very hopeful that our leaders in washington are going to come together and reach across the aisle and work on this subject because this is not a republican or democratic problem. this is an american problem we need to address and respond to one way or the other. i don't know the solutions about how to go about it but i believe we need to address the subject. i don't think that's in the mind of most consumers today. you know our business has been outstanding for the last 11 quarters in sales and earnings and i suspect that our fourth quarter will continue with a positive performance so i don't think it's hit the average consumer. i think it's hit the minds of people in the business world. >> when do you think it would hit the consumer? is it something that if talks continue through december 15th and beyond, does that start to create a problem for you? >> i think if it gets to the point where w
't be easily won over during tax talks. the mering fiscal cliff next. >>> and it was a normal thanksgiving morning until this multi-car wreck. how some 100 cars collided in texas. >> it was just a kmpl seconds, chain reaction. crazy. flashed right before my eyes. i don't spend money on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ throughout our lives. one a day men's 50+ is a complete multi-vitamin designed for men's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day men's 50+. >>> a lot of people in texas say they are lucky to be alive today. that's after this massive interstate pile-up on thanksgiving morning. more than 100 cars, pickup trucks were involved. they were bar
Search Results 0 to 7 of about 8